Backed by a major professional services firm and a number of senior figures in banking, accountancy and other spheres, the RIA can meet the "intricate needs of the wealthiest families," one of its creators says.

Senior figures at McDermott Will & Emery, Citi Private Bank and other major firms are launching a new RIA headquartered in West Palm Beach, backed by Alvarez & Marsal, the professional services firm. 

The new entity – A&M Private Wealth Partners – operates as an independent affiliate of A&M. 

The new business will “provide comprehensive family office services to entrepreneurs, multi-generational families, and financial sponsor principals, aligning with A&M’s legacy as trusted advisors specializing in value preservation and creation for complex businesses,” a press release from A&M said yesterday.

Tony Alvarez II, co-CEO of A&M, said there’s a need for this new business even in a market “saturated” with RIAs. 

“Many firms remain sales-oriented and lack the comprehensive resources necessary to meet the intricate needs of the wealthiest families. We recognize that for ultra-high net worth clientele, their needs are as complex as the businesses we work with today,” Alvarez said.

The founding team of AMPWP includes:

-- Peter Sacripanti, chairman of AMPWP, is former chairman of the McDermott Will & Emery law firm; 
-- Michael Calkin, a portfolio manager, family office executive, and private banker at JP Morgan and Citi Private Bank, serves as AMPWP practice lead; 
-- Jonathan Fitzgerald, former head of domestic wealth planning for North America at Citi Private Bank, heads the wealth planning division; 
-- Michael Murgio, previously chief investment officer at Greenway Wealth Management, serves as chief investment officer; 
-- Takuya (Taki) Kisaka, former global head of fixed income at Citi Investment Management, leads the fixed income team; 
-- John Ralls, former regional head of business development at Fidelity Family Office Services, leads business development efforts; and 
-- Joseph Berardino, formerly in leadership roles such as CEO for Andersen Worldwide, is senior advisor to AMPWP.

“We have purposefully assembled a best-in-class team to provide holistic wealth management advice at a level that we believe is unmatched in the market today,” Calkin said of the new team.

Launching with a total of 20 members, it includes seven partners. Besides its West Palm Beach HQ, the firm has offices in New York City, Atlanta and Los Angeles.